Sellers in Prince William County enjoyed a great May 2012. Not only is the average sale price of a detached single-family home up 2.51% from May 2011 to $346,495, but the average days on market also dropped by a whopping 25%!
Despite this great news, new listings coming onto the market continue to lag behind demand. There are currently only 1182 total active listings on the market in all of Prince William County, making it difficult for buyers to find their dream home.
Statistics for Price William County-
|May 2012||May 2011||% Change|
|Sold Dollar Volume||$179,890,966||$145,510,380||23.63%|
|Avg Sold Price||$298,822||$280,367||6.58%|
|Median Sold Price||$273,000||$245,000||11.43%|
|Avg Days on Market||43||56||-25.00%|
|Avg List Price for Solds||$302,066||$283,981||6.37%|
|Avg SP to OLP Ratio||97.8%||97.2%||0.66%|
|Ratio of Avg SP to Avg OLP||97.2%||96.6%||0.64%|
|Attached Avg Sold||$225,911||$198,881||13.59%|
|Detached Avg Sold||$346,495||$337,997||2.51%|
|Attached Units Sold||238||215||10.70%|
|Detached Units Sold||364||304||19.74%|
Now is a great time to sell! Buyers are anxious to get into the market with the continuation of historically low interest rates (30 year average FHA is 3.6%). Ready to buy or sell? Call your Avery-Hess, Realtors agent in Lake Ridge at 703-492-6500 for all of your Real Estate needs!
Market data and commentary provided by Maryanne Moyers, Managing Broker, Avery-Hess, Realtors.
Search for homes in Prince William County, and all the DC Metro: www.averyhess.com